（年中经济观察）稳经济，中国货币政策仍有工具储备

Group 1 - The core viewpoint of the articles emphasizes that China's monetary policy remains supportive and adaptable, with various measures being implemented to stabilize economic growth amid a backdrop of moderate inflation and potential interest rate cuts by the Federal Reserve [1][2][3] - The People's Bank of China (PBOC) has introduced a series of monetary policy measures, including lowering the reserve requirement ratio and establishing a 500 billion yuan re-lending facility aimed at consumption and elderly care, which are expected to create a conducive financial environment for economic stability [1][2] - Financial data from May indicates a positive trend, with social financing scale and broad money (M2) growth rates exceeding those of the previous year, suggesting effective support for the real economy [1] Group 2 - The focus of the monetary policy is not only to support domestic demand but also to enhance the efficiency of capital allocation, directing resources towards new productive capacities [2] - Consumption is identified as a critical pillar for the Chinese economy, with recent initiatives targeting key sectors such as automobiles, home appliances, electronics, and tourism to stimulate and expand consumption [2][3] - The introduction of new policy-oriented financial tools is anticipated to facilitate investment and address capital shortages for project construction, with potential investment areas including digital economy, artificial intelligence, and green transformation [3]